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Thursday, July 11, 2002 |
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Brands Shopping Network Announces Cable Distribution Deal With TVN Entertainment Corporation
Deal Enables At-Home Retail Shopping via TV Program Distribution
PHOENIX--July 10, 2002--Brands Shopping Network, Inc. (OTCBB:BSNK) announces the completion of a distribution deal with TVN Entertainment Corporation, a leading digital content programming, management and distribution company. Under the terms of the agreement TVN`s direct response programming subsidiary TVN Direct will provide cable carriage to Brands Shopping Channel.
The Brands Shopping Channel, a new full-time television shopping network scheduled to launch in the fourth quarter through satellite, cable and broadcast distribution, is breaking new ground in televised home shopping. It enables at-home retail shopping via TV programming creating the opportunity for transactions between national retailers and consumer branded products and their customers. Brands Shopping Channel viewers have the comfort of communicating directly with recognized retailers and the assurance of receiving products directly from them without third party intervention. Additionally, TVN Direct`s cable distribution will enable retailers to reach new consumers in areas where they do not have a presence while providing the convenience and added entertainment value of at-home television shopping to their existing customer base.
Initially, TVN Direct will provide Brands Shopping Channel with distribution to approximately 5 million full-time cable households. Throughout the course of the 5-year agreement, the two will build carriage by leveraging TVN Direct`s current subscriber base of 50 million cable TV subscribers. Programming enhancements will be two-fold, adding new retailers to the programming line-up and leveraging the on-demand services that TVN Direct parent TVN Entertainment provides to a majority of the nation`s largest cable multiple system operators (MSOs).
"We are excited about bringing new and innovative direct response programming to the marketplace. Our relationship with Brands Shopping Network is going to revolutionize the category by bringing trusted, quality brand name retailers into viewers` homes," said JoAnn Levey, TVN Direct General Manager and Senior Vice President. "This relationship is truly complementary, where both parties bring their respective expertise to the table."
"The agreement we have put in place with TVN brings Brands Network Inc. closer to reaching our goal of launching Brands Shopping Channel in 30 million FTE homes in the fourth quarter," said Wendy Borow-Johnson, Brands Network Inc. President. "TVN is a partner who understands the value of transaction based television services and is capable of helping us grow this service to its potential."
Brands Shopping Network Inc. is currently building its media distribution base and initial programming schedule. It has already entered into agreements with name brand retailers who are familiar cornerstones in America`s malls and on-line shopping sites including among others: Brookstone, Ritz Interactive, Wherehouse Music, Everything But Water, Spafinder.com, ICE.com, BoatersWorld.com, Roger Dunn Golf and Strouds. Brands Shopping Channel works with its retail partners to produce informative and entertaining programming for consumers. Viewers learn more about specific name brand products and have the opportunity to purchase them right at home through the retailers 800 numbers with delivery handled by the same, thus truly providing the consumer the retail experience.
About Brands Shopping Network, Inc.
Brands Shopping Network, Inc. is a new media company focused on bringing well-recognized retailers and name brand products to consumers on television through a dedicated 24 hour a day channel as well as interactive and on demand services. Brands Shopping Channel will provide consumers the opportunity to shop for a variety of name brand products from popular retailers through transaction based lifestyle programming. Brands Shopping Channel will also provide well-recognized retailers with a turnkey solution of production services and national cable, broadcast and satellite media distribution. Retailers will be able to capitalize on Brands Shopping Channel`s entertaining and informative lifestyle programming to reach millions of targeted consumers through television home shopping.
About TVN Entertainment Inc.
TVN, a leading digital content distributor and asset management company, currently serves cable systems reaching over 50 million U.S. cable TV subscribers. The company has more than ten years experience in the management and secure delivery of professional grade video and audio content, including movies, sports, special event pay-per-view programming, broadcast and network fare, infomercials and advertising. TVN`s Digital Content Express is a comprehensive suite of services for NVOD and VOD programming, equipped to encode, archive, transport and manage professional grade video and other content via satellite and fiber across all last-mile distribution technologies, worldwide. TVN Direct is a TVN subsidiary providing leading direct response programming. Please visit our website at www.tvn.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated by these statements. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new production, license and sign artist agreements; and the unpredictable nature of consumer entertainment preferences; as well as other factors set forth in the Company`s most recently filed Form 10 reports. The forward-looking statements contained herein represent the Company`s judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. Brands` assumes no obligation to update the statements contained in this release.
CONTACT:
Brands Shopping Network Inc.
Mark Doumani
602/274-0249
mdoumani@bsc.tv
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